SunSirs: Domestic Market Dynamics of Xylene on February 2, 2023

1、 Summary of prices on February 2:

Shijiazhuang Refining&Chemical quoted 7400 RMB/ton, Qingdao Refining&Chemical quoted 7500 RMB/ton,

Yangba (solvent) quoted 7250 RMB/ton, Xinhai Petrochemical quoted 7600 RMB/ton,

Guangzhou Petrochemical quoted 7550 RMB/ton, and Maoming Petrochemical quoted 7500 RMB/ton. Domestic market dynamics of xylene on February 2, 2023

1、 Summary of prices on February 2:

Shijiazhuang Refining&Chemical quoted 7400 RMB/ton, Qingdao Refining&Chemical quoted 7500 RMB/ton,

Yangba (solvent) quoted 7250 RMB/ton, Xinhai Petrochemical quoted 7600 RMB/ton,

Guangzhou Petrochemical quoted 7550 RMB/ton, and Maoming Petrochemical quoted 7500 RMB/ton.

2、 Fluctuation trend:

3、 Analysis and comments:

Internationally, OPEC+'s determination to cut production remained unchanged. The Federal Reserve announced a 25 basis point increase in interest rates. International oil prices rose and fell, and the prospects for global demand strengthened, boosting oil prices. At present, the pressure of macro risk is increasing, the support below is strong, and the power of long and short is relatively balanced, so it is not suitable to be too short.

With the opening of the country, the domestic gasoline export volume has increased, and the demand for oil transfer in domestic trade has increased. At the same time, with the arrival of spring, foreign gasoline consumption has gradually increased, and the export volume of xylene in Asia is expected to increase. However, the downstream demand of chemical fiber is in the off-season around the Spring Festival, and PX's demand for xylene is difficult to increase, and the price of xylene has weakened slightly. The quotation of Xinhai Petrochemical fell by 200 RMB/ton today.

2、 Fluctuation trend:

3、 Analysis and comments:

Internationally, OPEC+'s determination to cut production remained unchanged. The Federal Reserve announced a 25 basis point increase in interest rates. International oil prices rose and fell, and the prospects for global demand strengthened, boosting oil prices. At present, the pressure of macro risk is increasing, the support below is strong, and the power of long and short is relatively balanced, so it is not suitable to be too short.

With the opening of the country, the domestic gasoline export volume has increased, and the demand for oil transfer in domestic trade has increased. At the same time, with the arrival of spring, foreign gasoline consumption has gradually increased, and the export volume of xylene in Asia is expected to increase. However, the downstream demand of chemical fiber is in the off-season around the Spring Festival, and PX's demand for xylene is difficult to increase, and the price of xylene has weakened slightly. The quotation of Xinhai Petrochemical fell by 200 RMB/ton today.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.